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business man to show my trumps before the proper time. And yet I am egotist enough to dream of power created by my own hands. I have inherited almost everything. Now I create by myself. Miss Thatcher, the time will come—and it is not far distant—when I can say that I have achieved. When I have built up a little kingdom in my own right."

      "Whatever greatness there is in us," said she gravely, "comes out in the struggles we make. And whatever evil there is in us also comes out."

      "Very true," agreed Woolfridge. "But few men have the courage of their convictions. I mean the smashing desire to take everything before them and see the end. You may not think it, but I have that desire. As for evil—it is a word too much used. Tell me, what is evil, except a label arbitrarily applied by society to this case and that case as society wills? There is much injustice done in the name of that word."

      "I am not a philosopher," said Gay, and smiled.

      Immediately he lost his seriousness and became the affable host. They finished the meal and lounged in front of the fire, talking of idle and inconsequential things. Presently he showed her his collection of fabrics. Midway in this a horse pounded up to the front door and a rider struck the ground heavily. Woolfridge paid no attention to the distraction until the Filipino lad came soundlessly in and ducked his head. Woolfridge excused himself and went out. The girl heard the rider's voice come strongly through the door, and almost instantly was hushed and trailed down the yard. She stood with her back to the fire, very thoughtful. Beside Woolfridge in town, she had judged him from surface appearances; and, since she was a wise young lady, she had added something to those appearances and given him credit for being more than he seemed to be. Yet she was not prepared for the hints of character thrown off this evening. She felt somehow on insecure ground. Almost as if she were on unsafe ground.

      He came back at the end of ten minutes; and, though he smiled easily and resumed the tour of inspection, there was about him a subtle change. He lost a little of the urbane courtesy; he made no particular attempt to carry on small talk. The girl all of a sudden decided she was weary and said as much.

      "It has been a long day. I believe I had better go up."

      "I'm sorry. There are a number of things yet to be discussed."

      "For instance?" she suggested, standing at the bottom of the stairs.

      "My dear girl, you are a complete mystery to me—and to others. Don't you think it fair to let some of us in on what you have done all these years?"

      She rose three steps and poised again. "What does it matter? I am only Gay Thatcher. I have seen some of the world—and I hope to see more. I love adventure—almost as much as you do, Mr. Woolfridge. But I rather think I disagree with you about the relative qualities of evil. You see, I was brought up strictly orthodox. And the training still endures."

      "I am interested to hear you say it. You show me a great many different small peepholes of yourself—-all very attractive, but none of them more than a hint. What of the future?"

      "The future," replied Gay, for once quite sober, "is as much a mystery to me as to you. I content myself with doing what I must do. And that is, making a living."

      He bowed. "I bid you good-night. Ysabel has lighted the fire in your room. We have many things to talk about in the future."

      She looked down with that quizzical, half-humorous glance so much a part of her. "My dear sir, how long do you think I am staying here?"

      "I wish and I hope," said William Wells Woolfridge with extraordinary fervency, "that it be forever."

      She went on up and into her room without answer. Woolfridge kept his eyes on the landing for a few moments, then turned to a desk in one corner of the vast room. He took a cigar and shuffled before him three different sheets of paper. Each of these bore the same letterhead—that of the power company down- territory. Each was brief, each doubtful and suggesting complications. Woolfridge reread them, agile mind building up meanings between the words. And at last he rose and warmed himself by the fire, rocking to and fro on his heels.

      "It will go through," said he. "I will put it through, one means or another. I am not to be stopped. Not by anything, legal or illegal. What is legality, anyhow? I am committed to this thing. I will not go back."

      In her room Gay turned out the light and from her pillow watched the cheerful running of the fireplace flames. Drowsiness immediately overtook her. "I think," she told herself, "that William Wells Woolfridge is one of the most dangerous men I have yet met. And the danger of him is that he conceals himself so well. I wonder if he stops short of any of the commandments? Gay, my dear, you wiggle out of this quickly. Wolf's Head is a poor place for you." She dropped asleep, thinking not of Woolfridge but of Jim Chaffee.

      VIII. THE TIDE GOES OUT

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      Wedged there between shoulders of rock that permitted his body to sink slightly inside the steep face of the canyon wall, and with a ledge no more than four inches wide holding him against a sheer drop to death, Jim Chaffee passed through those thundering, crashing moments of ordeal and torture. He was surrounded all at once by the crush and the bellow of a herd going to its doom. This mass swept out of the darkness to right and left of him. The brutes shot directly over the top of his head, pitching far into the maw of the gorge. Nothing could stop the force of that flight; nothing could divert it now. Sprays of sand and rock skimmed his back, and all that protected him from being struck and torn loose by those scudding, flailing hoofs was the insecure outcrop of lava substance above him. Even so, a breaking away of that outcrop by the tremendous pressure exerted upon it might happen at any instant; a chance hoof might plunge down and knock his feet clear of the ledge. He faced eternity while the roar and the confusion swelled to an indescribable pitch and his brain grew giddy from the strain of it.

      Far down he heard the wailing of animate flesh; he had the sensation of a vast waterfall ruslnng over the rim. All muscles were growing numb from the pressure he placed upon them. Where was the barb wire that had been on the fence posts earlier in the afternoon? At this very spot he had spread the strands apart to let himself and Gay Thatcher through. Cattle stench was in his throat, and a stumbling brute fell so close to him that he got the impact of wind breaking against the carcass. He no longer was able to command his fingers, no longer able to feel the strain of them against the rock. In that second of black despair when he was about ready to give up, the last member of the herd capsized and hurtled down with a grunt and full-throated bawling. And then it was over, and a queer, oppressed silence settled along the dusty earth. He started to haul himself out and was arrested by voices.

      "Got 'em all?"

      "Yeah. Every last pound o' flesh."

      Riders were moving within ten feet of Chaffee. He heard the rasp of leather and the jingle of chains. A match broke the darkness, but he was in too cramped a position to be able to look above the outcrop.

      "Cut that out! Pinch the match, yuh fool!"

      "What's the difference? Shucks—"

      "Which one o' you addle-brains fired that shot?"

      Jim heard denial come from a number of throats. There could be no mistaking the voice of the questioner. That rumbling tone could come only from the immense barrel of Theodorik Perrine.

      "Well, by Jupiter, somebody fired it!"

      "Reckon' Chaffee come back from Woolfridgc's in time to get mixed up with the herd?"

      "I shore would like to think he was takin' his last drink o' water now," growled Perrine. "But we ain't gettin' rid o' Chaffee that easy. Some o' you dudes is lyin' to me. When I find out who it is I'll strip said party and cut my mark. Didn't I say no shootin'? We ain't advertisin' this."

      "Nobody in this outfit fired a shot." That, Chaffee decided, was Sleepy Slade. Sleepy was the only man in Perrine's gang able to talk back. "Let's sift around and see if we can corral Chaffee."

      "We're goin' to

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